Courtesy of Nick Baer

Chilliwack and District Real Estate Board MLS ® home sales reach three-year high in 2024

$405,100 apartment

$893,100 detached

UP 2.2% year-to-year

UP 1.7% year-to-year

$626,500 townhouse UP 4.9% year-to-year

160 NEW LISTINGS 148 SOLD LISTINGS

BENCHMARK PRICES

5.4 MONTHS OF INVENTORY

92.5% SALES TO NEW LISTING RATIO

792 ACTIVE LISTINGS (residential inventory)

Chilliwack, January 2025 - The number of homes sold through the MLS ® System of the Chilliwack and District Real Estate Board totaled 148 units in December 2024. “Thanks to a gradual and sustained recover in 2024, annual home sales came in above levels from the previous two years and established solid momentum going into 2025,” said Steven Kelly, President of the Chilliwack and District Real Estate Board. “There’s still a moderately high level of inventory to work through and our market is firmly in the middle of balanced territory, so even if current trends hold steady we don’t expect to see strong price growth in the short term. That said, with interest rates still on their way down and new mortgage rules that should be supportive of demand, our spring market will provide a better lens on what the rest of the year might shape up to be.”

The overall MLS ® HPI composite benchmark price was $732,200 in December 2024, a modest gain of 1.6% compared to December 2023. The benchmark price for single-family homes was $893,100, up modestly by 1.7% on a year-over-year basis in December. By comparison, the benchmark price for townhouse/row units was $626,500, an increase of 4.9% compared to a year earlier, while the benchmark apartment price was $405,100, a small gain of 2.2% from year-ago levels. There were 160 new residential listings in December 2024. Active residential listings numbered 792 units on the market at the end of December. Months of inventory was 5.4 at the end of December 2024. Statistics reflect market activity in December 2024 | Source: Chilliwack and District Real Estate Board | Market values stated are of the benchmark of Chilliwack and surrounding region. Individual home market values will vary and are affected by factors such as location, size, interior and exterior condition. Please call to get an up-to-date evaluation of your home.

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